Just a couple weeks ago, Dell (DELL) agreed to shell out $820 million for Compellent Technologies (CML). It was a way to bolster its position in the storage space and to ward off rivals like Hewlett-Packard (HPQ).

Interestingly enough, Dell is not slowing down with its dealmaking. The latest transaction came this week with the purchase of SecureWorks. The price tag was not disclosed.

One of the big themes in technology for 2010 has been the scramble to buy up data storage companies. Perhaps the most interesting transaction was the bidding war for 3Par. HP (HPQ) paid a premium price to beat out Dell (DELL).

As margins on PCs and laptops continue to fall, the large computer makers are trying to find ways to boost margins. And data storage products are a key way to do this.

Analyst Upgrades

• Procter & Gamble (PG) upgraded to buy from neutral at Goldman.
• Capital One (COF) upgraded to outperform from market perform at FBR Capital.
• Airgas (ARG) upgraded to outperform from neutral at RW Baird.
• Broadcom (BRCM) upgraded to positive from neutral at Susquehanna.
• Lululemon (LULU) upgraded to hold from underperform at Jefferies.
• DryShips (DRYS) upgraded to outperform from neutral at Credit Suisse.

Analyst Upgrades

• Sprint (S) was upgraded to neutral from underweight at Piper Jaffray.
• Cree (CREE) was upgraded to outperform from market perform at Morgan Keegan.
• Brocade (BRCD) was upgraded to outperform from market perform at JMP Securities.
• JPMorgan upgraded WuXi PharmaTech (WX) to overweight from neutral.
• Barclays upgraded ITC Holdings (ITC) to overweight from equal weight.
• Centene (CNC) was upgraded to outperform from underperform at Oppenheimer.
• Senior Housing (SNH) was upgraded to buy from hold at Jefferies.
• UBS upgraded Hovnanian (HOV) to neutral from sell.
• GeoResources (GEOI) was upgraded to accumulate from neutral at Madison Williams.
• Compellent (CML) was upgraded to hold from sell at Canaccord.

Analyst Upgrades

• BB&T (BBT) was upgraded to buy from neutral at Janney Montgomery.
• Amylin (AMLN) was upgraded to outperform from market perform at Leerink.
• Wells Fargo upgraded Morton's Restaurant (MRT) to outperform from market perform.
• Check Point (CHKP) was upgraded to overweight from neutral at HSBC.
• Deutsche Bank upgraded Excel Maritime (EXM) to buy from hold.
• JinkoSolar (JKS) was upgraded to buy from hold at Auriga.
• Piper Jaffray upgraded Compellent (CML) to overweight from neutral.
• BofA/Merrill upgraded Crane (CR) to buy from neutral.
• Goldman upgraded Wisconsin Energy (WEC) to conviction buy from buy and American Electric (AEP) to buy from neutral.
• Motorola (MOT) was upgraded due to increasing carrier support by MKM Partners.
• Under Armour (UA) was upgraded to buy from neutral at Sterne Agee.

Analyst Upgrades

• UBS upgraded Starbucks (SBUX) to buy from neutral, citing expectations for sales momentum. The firm raised its price target to $29 from $27.
• Piper Jaffray upgraded Sonic (SONC) two notches to overweight from underweight on expectations the company's sales and margin trends are set to improve. The firm raised its target price for shares to $12 from $8.
• BMO Capital upgraded Chicago Bridge & Iron (CBI) to outperform from market perform, citing its outlook for earnings growth. The firm has a $30 target on the stock.
• Clorox (CLX) was upgraded to overweight from equal weight at Barclays.
• Alexion Pharma (ALXN) was upgraded to conviction buy from buy at Goldman.
• Compellent (CML) was upgraded to buy from hold at ThinkEquity.

Wall Street's equity market kicks into fifth gear this week with 8 IPOs and 6 Secondaries on the docket.

Those deals tentatively scheduled to price include:

IPOs:

Possible

• SP Acquisition (DSP), a 36M-share IPO for this business financing company. UBS Investment and Ladenburg Thalmann are the lead managers. Filing pricing: $10.00.

Midweek

• Mediatech Investment (MDTC), a 10M-share IPO for this business financing company. UBS Investment and JMP Securities are the lead managers. Filing range: $14.00-$16.00.